607 Shares in Quanta Services, Inc. $PWR Bought by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. acquired a new position in shares of Quanta Services, Inc. (NYSE:PWR) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 607 shares of the construction company’s stock, valued at approximately $229,000.

A number of other institutional investors have also recently added to or reduced their stakes in PWR. Kingstone Capital Partners Texas LLC bought a new position in Quanta Services during the 2nd quarter worth $650,960,000. Nuveen LLC bought a new position in Quanta Services during the 1st quarter worth $404,288,000. Amundi grew its stake in shares of Quanta Services by 188.3% in the first quarter. Amundi now owns 1,206,577 shares of the construction company’s stock worth $304,139,000 after purchasing an additional 788,079 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Quanta Services by 433.3% in the first quarter. Jennison Associates LLC now owns 620,973 shares of the construction company’s stock worth $157,839,000 after purchasing an additional 504,540 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Quanta Services by 2.4% in the first quarter. Vanguard Group Inc. now owns 17,417,299 shares of the construction company’s stock worth $4,427,129,000 after purchasing an additional 407,878 shares in the last quarter. 90.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PWR has been the subject of several recent analyst reports. DA Davidson increased their price target on Quanta Services from $305.00 to $395.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. JPMorgan Chase & Co. increased their price target on Quanta Services from $395.00 to $436.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. UBS Group increased their price target on Quanta Services from $413.00 to $474.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Citigroup increased their price target on Quanta Services from $490.00 to $517.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Finally, TD Cowen increased their price target on Quanta Services from $355.00 to $425.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Fourteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, Quanta Services has a consensus rating of “Moderate Buy” and a consensus price target of $411.59.

Quanta Services Trading Up 3.2%

Shares of NYSE PWR opened at $441.09 on Monday. Quanta Services, Inc. has a 12 month low of $227.08 and a 12 month high of $447.17. The company has a market cap of $65.73 billion, a price-to-earnings ratio of 68.28, a P/E/G ratio of 2.61 and a beta of 1.04. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.59. The business has a fifty day simple moving average of $401.36 and a 200-day simple moving average of $368.88.

Quanta Services (NYSE:PWR) last announced its earnings results on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.44 by $0.04. Quanta Services had a return on equity of 18.41% and a net margin of 3.73%.The business had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same period in the prior year, the business posted $1.90 earnings per share. Quanta Services’s revenue was up 21.1% compared to the same quarter last year. Quanta Services has set its FY 2025 guidance at 10.280-10.880 EPS. Sell-side analysts predict that Quanta Services, Inc. will post 9.34 EPS for the current year.

Quanta Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Wednesday, October 1st were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Wednesday, October 1st. Quanta Services’s dividend payout ratio is currently 6.19%.

Quanta Services Company Profile

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.